https://www.taxtmi.com/acts?id=37114 Where the Authority, after required examination, concludes a registered person has profiteered, that person is liable to pay a penalty equal to ten per cent of the amount so determined, provided no penalty is leviable if the determined amount is deposited within thirty days of the Authority's order; "profiteered" means the amount determined for not passing the benefit of a reduction in the rate of tax or the benefit of input tax credit by way of commensurate price reduction. en-us Wed, 24 Jul 2019 17:02:06 +0530 Wed, 05 Feb 2020 15:41:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37114 Where the Authority, after required examination, concludes a registered person has profiteered, that person is liable to pay a penalty equal to ten per cent of the amount so determined, provided no penalty is leviable if the determined amount is deposited within thirty days of the Authority's order; "profiteered" means the amount determined for not passing the benefit of a reduction in the rate of tax or the benefit of input tax credit by way of commensurate price reduction. Act-Rules F. Acts / Amendment Acts Wed, 24 Jul 2019 17:02:06 +0530 https://www.taxtmi.com/acts?id=37114